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Price activity in the CELO/USDT market has shown up above the $0.8000 mark after its price action dipped below the same psychological support. This market still has good chances of venturing even higher. Trading indicators are also positive about the fact that bullish momentum is still of formidable strength in this market.
CELO Statistics:
Current Celo Value: $0.8060
Celo Market Cap: $411,633,702
CELO Circulating Supply: 524,760,766 CELO
Celo Total Supply: 1,000,000,000 CELO
CELO CoinMarketCap Ranking: 128
Key Price Levels:
Resistance: $0.8060, $0.8150, and $0.8300
Support: $0.8000, $0.7900, and $0.7800
CELO/USDT Bullish Momentum Weighs in Charging Through the $0.8500 Mark
For about three trading sessions in the CELO/USDT daily market, it can be seen that bullish momentum has advanced significantly, considering the size of the last three price candles on this chart. The last price candle here has printed the most profit for bullish traders.
In fact, it is through this session that the price candle has risen above the middle limit of the Bollinger Bands. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator has started converging for a bullish crossover beyond the centerline of the indicator. All the displayed signs on the applied technical indicators are positive, suggesting that Celo may still record more profits.
Celo May Be Facing Rejection Already
The CELO/USDT 4-hour market has shed more light on price activities in this market. In the previous session, it was revealed with the help of the corresponding price candle that the price action had corrected downward. This happened after the price action had attempted to break out of the uppermost limit of the Bollinger Bands.
Nevertheless, the ongoing session has shown that buyers may be ready to refuse further downward corrections in this market. This is suggested by the appearance of the last price candle on this chart. Likewise, the MACD lines are still having an upward trajectory, despite the appearance of a pale green bar on the indicator. Therefore, CELO’s price may still approach the $0.8500 and $0.9000 marks.
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